538: Pros And Cons Of Working With Family And Friends In Construction

<h1 style="text-align: center;"><span style= "color: #0000ff;"><strong>This Podcast Is Episode Number 538, And It's About Pros And Cons Of Working With Family And Friends In Construction</strong></span></h1> <div>Ever dreamed of starting a family business? Investing in a franchise opportunity with friends?</div> <div> </div> <div>Businesses owned and operated by families can have incredible staying power. All family-owned companies, Volkswagen, Samsung, and Nike, are among the world's most successful, leading brands.</div> <div> </div> <div>Working with family and friends can be fun and rewarding, especially in the construction industry. I know because we've been in one. But before you hire the people you care about most, it's wise to consider the pros and cons.</div> <div> </div> <div> <p style="font-weight: bold;"><span style="color: #0600ff;">Pro: Dynamics</span></p> <p><span data-preserver-spaces="true">When you hire family and friends, working together can feel comfortable and pleasant. You can vouch for their work ethic and values upfront. You already know their natural talents, abilities, preferences, and skill sets – their strengths, weaknesses, and how you can best work together.</span></p> <p style="font-weight: bold;"><span style="color: #0600ff;">Con: Dynamics</span></p> <p><span data-preserver-spaces="true">Regarding family and friends, modifying negative behavior or communication patterns can be challenging. What's more, it can be complicated to confront a loved one when they aren't acting in the company's best interest. The temptation to avoid conflict or hurt feelings can make managing a friend or relative tricky at best – at worst, it can become a severe liability.</span></p> <p><span data-preserver-spaces="true">Always practice clear communication. Share business policies, practices, and expectations just as you would with any employee.</span></p> <p style="font-weight: bold;"><span style="color: #0600ff;">Pro: Streamlined hiring</span></p> <p><span data-preserver-spaces="true">You'll save time